RE: New name - "Abrdn"27 May 2021 17:13
One for you all as very interesting and explosive upside imo.
FRES is being removed from the MSCI index today and because of that tracker funds have been selling for weeks. Because that's ending the selling pressure is finally coming off today. So despite the strong move up in gold and silver it's been held back essentially, the selling pressure has been immense from these trackers. In addition, a shorting institution called Millennium who have a dismal record in the shorts space tried to short with a 7m shares short position but are already feeling some heat as they got their timing totally wrong. They basically went short at the end of the msci period rather than the beginning! Anyway, what with FRES being not in alignment with the likes of POLY (which has re-rated hard), the msci tracker ending today, and Millenium now under pressure to reverse that big short there should be a real big squeeze, fireworks shortly.